Amgen: technical overview neutral, buying opportunity above 158.72

Amgen stock close slightly lower. Marked a fourth consecutive negative trading session. We suggest to monitore today closing.

Amgen stock close slightly lower. Trading session of the 05/01/2016 ends at 158.17 (-0.11%). Technical overview is neutral. The short term view leaves assume a price movements between support and resistance levels. Many leading oscillators confirm neutral trend, no bullish or bearish signals are triggered. Marked a fourth consecutive negative trading session. We suggest to monitore today closing.

AMGEN INC.

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Simple Moving Average (SMA)
The price is below the 14 days moving average (SMA value is 161.68). The short term view is therefore bearish, however for today trading session we can’t exclude retracements towards the most significant resistance levels.
Volumes
Daily chart shows volume is lower than the previous day. This could be a sign of a significant move to come.


Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 05/01/2016.

Performance: 7 trading days= -3.29% – 15 trading days= +0.04% – 30 trading days= -1.09%

Resistance levels: R1= 159.84 – R2= 161.50 – R3= 164.46
Pivot Point: 158.54
Support levels: S1= 156.88 – S2= 155.58 – S3= 152.62


DAILY TRADING SIGNALS

Buying opportunity above 158.72, targets minor resistance at 160.75 and perhaps as far as strong resistance at 162.11, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 165.71.

Selling opportunity below 157.55, targets minor support at 155.51 and perhaps as far as strong support at 154.17, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 150.59.